Notes to SEFA
Title: Noncash Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The schedule includes federal awards in the form of noncash assistance (commodities) received during the year in the amount of $1,155,566 related to USDA Commodities grants provided by the U.S. Department of Agriculture and passed through the lowa Department of Education.